Blockchain Recordkeeping

Definition ∞ Blockchain recordkeeping is the practice of storing transactional data and other information on a distributed ledger technology. This method creates an immutable and transparent log of events. Each record, or block, is cryptographically linked to the previous one, establishing a secure and verifiable history.
Context ∞ The application of blockchain recordkeeping extends beyond cryptocurrencies to various industries seeking enhanced data integrity and auditability. Businesses are exploring its use for supply chain tracking, digital identity management, and secure document storage. The inherent security properties of blockchain technology present a compelling alternative to traditional centralized record systems, impacting how data is managed and trusted.